Kaiser Aluminum Corporation (KALU) Expected to Post Quarterly Sales of $335.79 Million
Equities analysts expect Kaiser Aluminum Corporation (NASDAQ:KALU) to announce sales of $335.79 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Kaiser Aluminum Corporation’s earnings. The highest sales estimate is $336.64 million and the lowest is $334.34 million. Kaiser Aluminum Corporation reported sales of $320.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to issue its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Kaiser Aluminum Corporation will report full year sales of $335.79 million for the current fiscal year. For the next fiscal year, analysts anticipate that the company will report sales of $1.44 billion per share, with estimates ranging from $1.39 billion to $1.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Kaiser Aluminum Corporation.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.46. The company had revenue of $356 million during the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS.
Several research firms recently weighed in on KALU. BidaskClub raised shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 price objective on shares of Kaiser Aluminum Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $96.13.
Kaiser Aluminum Corporation (KALU) traded down 0.39% during mid-day trading on Monday, reaching $96.32. 84,129 shares of the company traded hands. The stock’s 50-day moving average price is $95.04 and its 200-day moving average price is $85.26. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $98.72. The firm has a market cap of $1.62 billion, a PE ratio of 21.16 and a beta of 0.54.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, July 25th. Kaiser Aluminum Corporation’s payout ratio is 44.44%.
In related news, Director Alfred E. Osborne, Jr. sold 2,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $94.56, for a total value of $189,120.00. Following the completion of the sale, the director now directly owns 15,622 shares of the company’s stock, valued at approximately $1,477,216.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Krouse sold 1,500 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total value of $144,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,714 shares of company stock worth $1,937,826 over the last 90 days. Company insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after buying an additional 497,040 shares in the last quarter. FMR LLC increased its position in shares of Kaiser Aluminum Corporation by 136.8% in the second quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock valued at $18,196,000 after buying an additional 118,741 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Kaiser Aluminum Corporation by 30.9% in the second quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock valued at $37,078,000 after buying an additional 98,855 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its position in shares of Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after buying an additional 96,509 shares in the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.
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Kaiser Aluminum Corporation Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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